The Maritime and Port Authority of Singapore (MPA) has announced a financial aid package to support the local maritime industry during the coronavirus outbreak.
The MaritimeSG Together Package, amounting to about $27m, will provide financial support to maritime companies, Singaporean seafarers and individuals.
Under the package, MPA will provide a 30% port dues concession for cargo vessels and all non passenger-carrying harbourcraft in the Port of Singapore from May 1 through to end of the year. MPA will also introduce new manpower schemes and increase the co-funding provided under selected Maritime Cluster Fund programmes over the same period and will increase its co-funding support under the fund schemes to up to 90%.
Additionally, MPA will roll out the seafarers relief package for eligible Singaporean seafarers who are unable to secure shipboard employment between May 1 and July 31.
“The effect of global supply chain disruption is increasingly being felt by the shipping industry. It is timely that more support be offered to the industry. While every crisis brings uncertainty, it also brings opportunity. The MaritimeSG Together Package aims to provide targeted support for the maritime companies, individuals, and seafarers. They have been working tirelessly to keep our ports open and cargoes going. Besides showing our appreciation for them, MPA also hopes to take this opportunity to accelerate the transformation of Maritime Singapore for the future. I am confident that this will better position Maritime Singapore for the new normal post COVID-19,” said Quah Ley Hoon, chief executive of MPA.